Once you make all your Master Information selections, the Setup Wizard prompts you to set defaults for various forms you use in your practice. Once you complete the setup for each form, a green checkmark will appear on the tile so you can easily see which you have not yet completed.

Set Master Forms Defaults

To complete the Master Forms setup in the TaxAct Setup Wizard:

1. Click the appropriate program tile. More options appear on the screen, which could include:
   • Charge By Form
   • Billing Invoice
   • Instruction Letter
   • Schedule K-1 Letter (applicable product versions only)

You can return to this section anytime, but keep in mind that setting Master Forms defaults from the beginning will save you time later. To access Master Form Data, click Preparer > Master Information > Master Form Data

Edit Master Forms

To edit the Master Forms in the TaxAct Professional Edition program to include additional information (i.e. Charge By Form, Billing Invoice, Instruction Letter, Partner Letter, or Shareholder Letter):

1. From within your TaxAct Professional Edition program, click Preparer in the upper menu bar.
2. Hover your mouse over Master Information, then hover your mouse over Master Form Data, then click whichever form you want to include additional information in from one of the forms that appear.
3. You can click Charge by Form, Billing Invoice, Instruction Letter, or other tabs at the top to add or change information as desired (the tabs at the top vary depending on which form you clicked).
4. Click OK to save changes.

Each time you update the Master Form Data for any form, you will need to indicate which returns should include the updates. To copy updated Master Form Data into multiple (or all) client returns:

1. From within your TaxAct Professional Edition program, click Preparer in the upper menu bar.
2. Hover your mouse over Master Information, then click Copy Master Form Data to Client(s).
3. You can click the All Return Types dropdown, and click your desired return type, then click Select Forms to Copy (if you don’t want to filter by return type, don’t click the dropdown).
4. By default, all Master Forms will be selected. Uncheck any box as needed so you only copy the necessary Master Form Data, then click Copy Selected Forms to Clients.
5. Click OK to confirm that you wish to transfer Master Form data to the client(s) you selected.

Master Forms Options

Charge by Form

This feature allows you to set default billing rates by form. You can add forms and charges not listed on the blank lines at the bottom of the list. Use the Select Type dropdown menu to switch between federal and state forms.

Master Billing Invoice

This is where you can:

• Assign custom invoices
• Select the Charge by Form method or list a flat preparation fee
• Charge a separate electronic filing fee
• Create custom fees
• List separate charges for preparation of Federal and State returns
• Apply a local sales tax amount

Master Instruction Letter

From here, you can set preferences for the formatting and content of your filing instruction letters, including:

• Letterhead
• Date parameters
• How to refer to your practice (e.g., “me” or “us”)
• Whether to include your name in the signature area